Rupee strengthens to 95.41 after oil cools
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The currency traded in the range of 95.40 and 95.75, with state-run banks selling dollars, likely on behalf of the RBI at weaker levels, dealers said. Brent crude oil prices slipped more than 3% to $89.2 per barrel, according to Reuters. He also noted the presence of state-run banks, on behalf of the central bank, through the first half of the trading day. Oil prices fell because markets viewed the latest US sanctions on Iran as less disruptive to physical oil supplies than a military escalation. The measures are seen as an economic pressure campaign rather than an immediate threat to Iranian exports. The rupee traded in a narrow 95.70-95.75 range before the news came. The currency has depreciated 0.6% so far this fiscal year. Read more: India adds 1.26 million credit cards in July as spending rises; HDFC, SBI lead the way Dealers will now be looking at comments from Federal Reserve Chair Kevin Warsh on Friday for cues on the outlook for US interest rates. The likelihood of future talks between Washington and Tehran also cooled yields on the benchmark 10 year bond by two basis points. The 10-year yield closed at 6.85%. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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